Texas Permanent School Fund Corp buys 2,976 shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

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Texas Permanent School Fund Corp grew its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB – Free Report) by 10.7% during the second quarter, Holdings Channel reports. The firm owned 30,892 shares of the semiconductor company’s stock after buying an additional 2,976 shares during the period. Texas Permanent School Fund Corp’s holdings in Silicon Laboratories were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in Silicon Laboratories in the second quarter valued at $28,000. Fidelis Capital Partners LLC bought a new position in Silicon Laboratories in the first quarter valued at $55,000. Mather Group LLC. purchased a new position in shares of Silicon Laboratories in the first quarter valued at $63,000. Lazard Asset Management LLC purchased a new position in shares of Silicon Laboratories in the first quarter valued at $103,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Silicon Laboratories during the second quarter valued at $82,000.

Silicon Laboratories held 3.7%

NASDAQ:SLAB opened at $110.75 on Friday. The company’s 50-day moving average price is $111.41, and its two-hundred-day moving average price is $121.29. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $154.91. The stock has a market cap of $3.54 billion, a P/E ratio of -33.46 and a beta of 1.19.

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Silicon Laboratories (NASDAQ:SLAB – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The firm had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. In the same quarter last year, the firm posted EPS of $0.59. The company’s revenue was down 40.6% compared to the same quarter last year. On average, equities research analysts expect that Silicon Laboratories Inc. to record -3.4 EPS for the current fiscal year.

Analysts set new price targets

A number of research analysts have recently commented on SLAB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $135.00, based on data from MarketBeat.

Read our latest report on SLAB

Indoor activity

In other news, SVP Brandon Tolany sold 845 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now directly owns 43,615 shares in the company, valued at approximately $5,015,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Corporate insiders own 1.72% of the company’s shares.

Silicon Laboratories Profile

(Free Report)

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog intensive mixed signal solutions in the United States, China, Taiwan and internationally. The company’s products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a wide range of Industrial Internet of Things (IoT) applications, including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart city applications such as smart metering, smart street lighting, renewable energy, electric vehicle power equipment and smart agriculture; commercial IoT applications including smart lighting, asset tracking, electronic shelf tags, theft protection and enterprise access points; smart home applications, including home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home detection, smart locks and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elder care, patient monitoring and activity tracking; as well as in commercial building automation, consumer electronics and medical instruments.